Sydney, 08 October 2015 – Increased tenant demand for serviced offices in Sydney has underpinned a significant lease deal at Piccadilly Tower on Castlereagh Street.
Clarence Professional Offices (CPO) has signed a 10-year lease on a whole office floor spanning 1,233sqm at Level 21, 133 Castlereagh Street.
CBRE Office Services, Associate Director, Jamie King negotiated the lease on behalf of Investa.
Mr King said CPO, a serviced office provider specialising in the legal sector, was attracted to the property’s location, which was in close proximity to the city’s courts.
“The property’s proximity to the courts and depth from window to core efficient size of the floor plate were key factors underpinning the deal coupled with360 degree natural light,” Mr King said.
“This deal is evidence of a wider trend whereby Sydney is seeing confidence in the serviced office sector. There is a lot of activity and confidence in this sector currently, including Servcorp, Regus and Compass who have all committed to new premises or very close to.”
CPO provides individual and multiple offices for tenants in the legal sector.
Mr King added: “Location was a key factor underpinning the deal, in addition to being able to offer access to large meeting and board rooms. CPO was impressed with the building’s services and that Investa is a proactive landlord investing in its building. The lobby upgrades were of particular appeal to CPO."
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.